NEW YORK--(BUSINESS WIRE)--Just after a few months of launching its NotMilkTM at Whole Foods Market nation-wide in the U.S., the leading food-tech in Latin America, backed by key venture capital names, including Jeff Bezos, announces it has been granted a patent for its proprietary artificial intelligence technology in the U.S.
Over the past two years, the plant-based food industry has experienced unchartered growth – 29% compared to 2.2% in general food retail1 – and plant-based products have become a staple in consumers’ daily routines. With the granted patent, NotCo sets a new standard in the plant-based industry. It is the only one to have cracked the code on such techniques of using artificial intelligence and machine learning algorithms to make plant-based products that match their animal-based counterparts.
“I’m a firm believer that the introduction of a new technology is the only way to solve a broken system. The food industry is obsolete and artificial intelligence is one of the keys to unveil a whole new world of possibilities, creating a whole new world of innovation and products that are just as delicious, but better for the environment. This patent really puts us ahead of the curve in the market,” says NotCo CEO & founder Matias Muchnick.
The patented technology not only helps protect the process to get to the current products in market – NotCo also commercializes NotBurgerTM, NotMayoTM, NotIceCreamTM and NotMilkTM in Brazil, Argentina, Chile, Colombia and soon to be in Mexico and Canada - but it also gives it an edge on future innovation, opening a new era in the global plant-based market.
“The patent covers applications ranging from deep analysis and understanding of animal and plant-based food using proprietary databases of ingredients and recipes to find different and unexpected plant combinations for target products, and this is only the beginning. We continue to evolve rapidly to push the industry forward,” says CTO and cofounder of NotCo Karim Pichara.
NotCo has a unique team working behind this technology breakthrough. A combination of scientists, culinary chefs, designers and engineers sitting in four different countries working together and providing feedback to Giuseppe – the name given to NotCo’s artificial intelligence - to come up with its matchless products.
NotCo has already raised $120MM in capital so far with key industry investors including Bezos Expeditions, Future Positive, L Catterton, Kaszek Ventures, The Craftory, General Catalyst, Maya Capital and Endeavor Catalyst. The company has its products sold at major retailers across the countries it is playing in like Walmart and Whole Foods Market, and currently counts on a team of 250 people distributed across Latam and North America.
NotCo will soon open a new office in New York to host its commercial operations while maintaining its Machine Learning team that is already hosted in San Francisco, California.
*NotCo’s US patent number US10,915,818
NotCo is a leading food-tech startup that utilizes proprietary artificial intelligence technology that can match animal protein to its ideal replacement among thousands of plant-based ingredients. NotCo has launched NotMilkTM, NotBurgerTM, NotIceCreamTM and NotMayoTM in Brazil, Argentina, Chile, Colombia and soon to be in Mexico and Canada and is the only global company to disrupt massive food and beverage segments including dairy, eggs and meat simultaneously. In less than three years NotCo has become one of the fastest-growing food-tech company in Latin America and has just recently announced its entrance to the US with its celebrated NotMilkTM product.